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Wells Fargo donated $225,000 to support Vermont nonprofits in 2018

Wells Fargo donated $225,000 to support Vermont nonprofits in 2018

Vermont Business Magazine Wells Fargo today announced the company donated $225,000 to local nonprofits, schools and community organizations in 2018 to help the communities and people of Vermont in need. Wells Fargo’s philanthropic contributions build on a long history of collaboration with local nonprofits and community leaders to make a positive impact by addressing urgent community issues such as affordable housing, out-of-school time education for middle school students and job training for young adults. When combined with the $50,000 donated by the company’s Vermont team members, nonprofits in the state received a total of $275,000 from Wells Fargo and its team members in 2018.

The Mentor Connector received $15,000 last year.

“Across our community, many residents are working hard to make ends meet. Here in Vermont, we want to help people find a stable place to live, combat summer learning loss among students, and help young people gain the skills that prepare them for the workforce,” said Ray Murphy, president and complex manager, Wells Fargo Advisors, Vermont. “We are determined to help people and communities, especially in underserved areas, succeed financially. We will continue to provide philanthropy, volunteers, knowledge and other resources to help revitalize and strengthen local neighborhoods.”

Beyond philanthropy, Wells Fargo team members in Vermont volunteered nearly 300 hours in 2018 to support nonprofits and causes important to them.

“Part of what makes Wells Fargo unique is the generosity of our team members who help multiply our community impact,” continued Murphy. “Sometimes giving our time is even more valuable than money because it puts our desire to build a strong community into action and gives us a tangible way to personally make a difference.”

United Way Worldwide recently recognized Wells Fargo for having the No. 1 team member giving campaign in the U.S. for the 10th-consecutive year.

Making an impact in Vermont
Wells Fargo concentrated its local philanthropic contributions on addressing urgent community issues such as:
• Affordable housing. To help increase affordable, stable housing and homeownership in low- and moderate-income neighborhoods, Wells Fargo collaborated with grantees such as Rebuilding Together South Burlington to provide homebuyer education, down payment assistance and other affordable housing solutions.
• Small business growth. Small businesses are critical to job creation and a vibrant community. Many diverse-owned small businesses, especially those in rural and low- to moderate-income communities, face unique challenges and often lack access to the full spectrum of resources necessary for growth and success. Nonprofits serving small businesses, including Capstone Community Action, received grants to provide access to capital and training for entrepreneurs in rural and urban markets.
• Access to education. Support included grants for local K-12 schools, scholarships for post-secondary or vocational training, and financial education, including Boys & Girls Clubs of Burlington, King Street Center and the Permanent Fund for Vermont’s Children.

"Wells Fargo is extremely genuine in their support of local communities. They are committed to help people to succeed, whether it's around issues of childhood poverty, like our Boys & Girls Club or challenges such as housing or substance abuse,” said Tanya Benosky, executive director, Boys & Girls Clubs of Burlington, Inc. “They understand what makes a community strong and they do the hard work to help us all to be our best."